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Mortgage Market Update
My Mortgage Company
Spencer Javier
Friday, November 6, 2026
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What your mortgage payments are really building |
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One of the best parts of owning a home isn't talked about enough: the equity you're building with every payment. Let me explain why that matters.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Building
Your home is working for you—here's how
Every mortgage payment you make builds equity in your home. That's real wealth accumulating month by month, separate from any market changes. The longer you hold your mortgage, the faster this grows—and it can open doors down the road, whether you need to tap into it for a major expense, refinance into better terms, or make a move. Understanding your equity position helps you make smarter decisions about your home and your finances. If you'd like to know where you stand right now, I'm happy to review your loan and walk you through the numbers. Reach out if you'd like to talk through your equity situation.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Spencer Javier
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